Reuters was first to report that Barclays (BARC.L) is working on plans to save up to 1 billion pounds ($1.25 billion), which could involve cutting as many as 2,000 jobs, mainly in the British bank’s back office.
Human Interest
Barclays working on $1.25 bln cost plan, could cut up to 2,000 jobs
24 November 2023, 1:52 pm 1 minute
Market Impact
Barclays’ share price has fallen 26% since Venkat took charge on Nov. 1, 2021, while Deutsche’s shares are little changed and HSBC’s (HSBA.L) have gained 37%.
Article Tags
Topics of Interest: Human Interest
Type: Reuters Best
Sectors: Business & FinanceFinancial Services
Regions: Europe
Win Types: Speed
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
